Bain News

Ammonia-to-power solutions provider Amogy announced it has signed a Memorandum of Understanding (MOU) with W-Industries, a provider of engineering, technology, manufacturing, construction and services, to explore opportunities for technology and engineering collaboration.Tailored for industries such as maritime shipping and power generation, Amogy’s ammonia-to-electrical power system splits, or “cracks,” liquid ammonia into its base elements of hydrogen and nitrogen, and then funnels the hydrogen into a fuel cell for clean power generation.Together…

Virgin Voyages, the cruise brand from Richard Branson's Virgin Group, said on Friday it has raised $550 million in fresh capital to expand into new international markets.The funding was led by Ares Management with participation from existing investors, including British conglomerate Virgin Group and venture capital firm Bain Capital.Launched at the end of 2021, Virgin Voyages operates three ships servicing the Caribbean and the Mediterranean. It plans to operate in Australia and…

German shipping company Hapag-Lloyd announced it has signed a binding agreement today under which it will acquire 35% of J M Baxi Ports & Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate.Additionally, Hapag-Lloyd AG signed a binding agreement with JMBPL and its promoters, the Kotak family, to subscribe to a capital increase by the company and raise Hapag-Lloyd’s shareholding to 40%. The contracting parties agreed to not disclose any financial details of the deal.J M Baxi Ports & Logistics Limited is a private terminal and inland transport service provider in India.

An inmate has died after jumping overboard from a New York City jail barge, the city Department of Correction announced.Police officers pulled Gregory Acevedo from the after after he reportedly climbed a fence at the Vernon C. Bain Center and jumped into the East River on Tuesday. The man was taken to the hospital but was pronounced dead after efforts to revive him were unsuccessful, according to officials.The Vernon C. Bain Center, also known as the Vernon C. Bain Maritime Facility, is a a 625-foot barge built for $161 million at Avondale Shipyard in Louisiana that opened as a jail in 1992.

U.S.-based passenger vessel operator Hornblower Group announced it has appointed Kevin Rabbitt has CEO. Rabbitt is expected to take up the role in July, while founder, Chairman and current CEO Terry MacRae will continue as Executive Chairman.Rabbitt’s appointment comes at a pivotal time for industry-leader Hornblower as many parts of the Group’s operations prepare to resume operations when current pandemic restrictions are lifted.“In these unprecedented times, there will be challenges alongside opportunities,” Rabbitt said.

The Baltic Exchange's main sea freight index fell for a second straight session on Wednesday to its biggest one-day decline in nearly six months, as rates for capesize vessels fell after a strong run.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 7%, or 151 points, to 2,014 points, its biggest one-day drop since January 31. The index has still more than tripled since February, mainly driven by strong demand for vessels that ship iron ore from…

Cruise line Virgin Voyages has assigned Wärtsilä the responsibility of the maintenance of its three brand new cruise ships due to enter service in 2020, 2021 and 2022.The comprehensive 10-year Optimized Maintenance Agreement, signed on April 30, 2018, gives extensive responsibility of maintenance to Wärtsilä, who will ensure that vessels are powered and operated reliably, efficiently and sustainably.Wärtsilä’s Dynamic Maintenance Planning allows maintenance operations to be carried out based on remotely monitored and analyzed real-time performance data.

Elizabeth Jackson has joined KVH Industries, Inc. as chief marketing officer and senior vice president for strategy.   Jackson has worked at a variety of companies including Proctor & Gamble, Campbell Soup Company, Summer Infant, and HookLogic, a Bain Capital Ventures portfolio company in ad tech performance marketing. Most recently, Jackson was CMO at DOTS Technology Corp, an NEA portfolio company in health tech.   Jackson has a B.A. from Princeton University and an MBA from INSEAD in France.

Philip M. Bilden has been elected to Huntington Ingalls Industries’ (HII) board of directors, effective November 7. Bilden retired last year as a co-founding member of the private equity firm HarbourVest Partners. He began his career in Boston in 1991 and relocated to Hong Kong in 1996 to establish the firm’s Asian subsidiary. Throughout his 25-year tenure at HarbourVest Partners, Bilden served in senior leadership roles in the firm’s global management, including the firm’s six-person executive committee responsible for governance.

Nicolas Quéru has been appointed to lead Navico’s Commercial Marine Division worldwide to take forward the marine electronics group’s continuing strategy for growth. Quéru has been made EVP Managing Director with immediate effect following his promotion from Vice President, Commercial Marine EMEA. He succeeds Jose Herrero. A French Native residing in Oslo, Norway, Quéru has extensive experience in international business management, including over eight years in management consulting at Oliver Wyman and Bain & Company leading assignments in strategic planning…

The 60-meter Royal Bahamas Defense Force Corvette HMBS Nassau (P-61) has arrived at Damen Maaskant Shipyards Stellendam in the Netherlands for an extensive refit. The 17-year old vessel will receive a comprehensive overhaul that comprises full systems and instrumentation replacement. The P-61 refit is part of the ‘Sandy Bottom Project’ contract between Damen Shipyards Group and the Royal Bahamas Defense Force that the two parties signed in 2014. This includes the delivery of nine Damen vessels…

A Damen RoRo 5612 was launched this month at Halong Shipyard in Vietnam, the shipbuilder announced. The RoRo is one of nine Damen vessels ordered by the Royal Bahamas Defense Force as part of its Sandy Bottom Project. The vessel’s multipurpose capabilities will be put to use by the Defense Force in a range of situations including law enforcement, aids to navigation (ATON), replenishment at sea (RAS), the re-supply to Defense Force bases and the provision of disaster relief throughout the island nation and the wider Caribbean community.

We wish we had a dollar for every time we heard or read the words Big Data at the Nor-Shipping exhibition last month. We might even have collected enough cash to buy a round of expensive Norwegian beers for the gang at the Fridtjof bar. Seriously, Big Data is one of the most talked-about subjects at maritime industry gatherings. At Nor-Shipping there were no fewer than half a dozen panels and conference sessions focusing on the role of Big Data and analytics in commercial shipping.

Virgin Cruises will launch its first luxury liner in 2020 from Miami, British tycoon Richard Branson announced, placing his bets on medium-sized "boutique" ships. The Virgin Group founder said he had signed a binding letter of intent with Italy's Fincantieri to build three 110,000-ton ships, to debut in 2020, 2021 and 2022. Each ship would carry 2,860 passengers, based on double occupancy, and 1,150 crewmembers. With characteristic flair, Virgin Group founder Richard Branson, sporting a skipper's hat, arrived in downtown Miami's Museum Park via helicopter and a cloud of Virgin-red smoke. Branson announced formation of the cruise line in December 2014. Bain Capital is the financing partner.

VISBY, ZUMWALT, INDEPENDENCE, FREEDOM, TORNIO, SAN ANTONIO, INCHEON, SIGMA, FREMM ... ... these ships are not only capable, tested and proven warships, they are extremely complex. ZUMWALT alone carries 16 Electronic Module Enclosures that contain 235 electronics cabinets each supporting a complex Total Ship Computing Environment. “Warships represent a significant investment for any country. It follows that, regardless of whether they are being used to defend national boundaries or project power…

Mr Vestring, 50, is a partner in Bain & Company's (Bain) Southeast Asia office. Of his 24-year career with Bain, Mr Vestring has spent over two decades in Asia advising leading companies on portfolio strategy, growth, mergers and acquisitions, merger integration, organisation and performance improvement. The companies he has advised include those in shipping, offshore & marine, industrial products, automotive, infrastructure, commodities, airlines and telecoms. Mr Vestring works closely with Asian and multinational companies to grow organically and inorganically across Asia. He is also part of Bain's Developing Market 100 initiative that partners high-growth companies in developing markets on the journey towards global leadership. and Bangkok.

Océan Remorquage Montréal Inc. tugboat 'Ocean Pierre Julien' christened at the Ocean Industries shipyard, Isle-aux-Coudres. The construction of this tug cost $ 10.6 million, and the vessel is the 3rd of the Intrépide series to be built at Ocean Industries. The traditional christening ceremony was held in the presence of the President and First Vice- President and General Manager of Ocean, Messrs. Gordon Bain and Jacques Tanguay, of Ms. Sylvie Vachon, President and CEO of the Montreal Port Authority, of Mr.

Delegates and speakers from around the globe will converge on the Maritime Institute of Technology and Graduate Studies (MITAGS) in the Washington, DC area Linthicum Heights, MD) US to participate in the second Wrecks of the World conference being held June 6-7, 2011. This is a unique opportunity to meet with global experts to explore potentially polluting wrecks and recent incidents around the world. These wrecks have caused government agencies and responsible parties to look…

When it came to the hull coating for its newest tug, the TundRA 100, the most powerful harbor tug ever to be built in Canada, Group Ocean chose Ecospeed, a nontoxic, hard, long-lasting coating with very high abrasion resistance, suited to tugs and to ice-going vessels of all types. Ocean began life as Aqua-Marine, founded by the company’s present President, Gordon Bain, in 1972 and specializing in underwater work. In 1987 the company evolved into Ocean Construction Inc. and acquired Québec Tugs, Ltd.

Recent christening at Ocean Industries Shipyard of the largest dredge ever built in Eastern Canada, the 'Ocean Traverse Nord'. The Ocean Traverse Nord  was built this past year at Ocean Industries shipyard at Isle-aux- Coudres. A  25-million-dollar shipbuilding project, the largest ever in Eastern Canada and Ocean's first dredge, created over fifty new jobs at the shipyard while generating major direct and indirect economic benefits for the Québec City region and especially for Charlevoix.

The upbound freighter 'Sedna Desgagnes' aground near Johnstown Bridge off Prescott, Ontario. The casualty is completely out of the channel and appears to be in a shoal area with 6 m of water or less. The ship is hard aground with cargo on board. She is up at the bow a few feet and listing slightly to starboard. This will be a major salvage operation with lightering taking place before she is pulled off her strand, according to 'Daily Great Lakes & Seaway Shipping News'. The tug Ocean Georgie Bain was upbound and due to reach Iroquois Locks Sunday afternoon. Multiple tugs may be needed due to the close proximity of the bridge pilon and the very strong current which will take the Sedna towards it as soon as she is released from her strand. No pollution was reported.

Iridium Communications Inc. (NASDAQ: IRDM) announced that Peter M. Dawkins, founder and principal of ShiningStar Capital LLC, and Brigadier General, U.S. Army (Retired), joined its Board of Directors. The appointment brings Iridium’s Board to ten members. Prior to founding his current firm, Gen. Dawkins was vice chairman of Global Wealth Management for Citigroup, vice chairman of the Citigroup Private Bank, and executive vice president and vice chairman of Travelers Insurance during an eleven-year tenure with the firm. Previously, from 1991-1996, he served as chairman and CEO of Primerica Financial Services, and earlier served as head of the U.S. consulting practice of Bain & Company. During his military career, Gen.

Speakers set to fuel energy debate at Unconventional Gas Aberdeen 2014. Leading figures from industry and government speaking at Unconventional Gas Aberdeen 2014 will tomorrow highlight the impact U.K. shale development could have on reducing costly gas imports but admit that more needs to be done to reassure communities on aspects such as fracking. With more than 50 percent of U.K. gas supplies now coming from imports, predominantly from Norway and the Middle East, shale gas is being promoted as part of the solution in creating a secure and affordable energy mix.